Connecticut's treasurer says her office's prudent oversight of a pool to compensate workers hurt on the job has resulted in a lower assessment that will save employers $102 million in fiscal 2019.

Outgoing state Treasurer Denise L. Nappier announced Thursday a reduction in the state's Second Injury Fund (SIF) assessment for fiscal 2019 to 2.25 percent from 2.75 percent for employers with worker's compensation insurance coverage. The state's 2019 fiscal year begins July 1.

SIF protects a diverse range of workers, including those with pre-existing health conditions injured on the job and those with bankrupt or uninsured employers. Funded with employer assessments, state law requires the treasurer to set assessment rates annually on May 1.

This will be the 20th consecutive year of no rate increase for SIF participants, and the eighth time that rates have fallen during her treasury tenure, said Nappier, a Democrat who decided against re-election and whose term expires at year-end.

"Since the beginning of my administration, we have been driven by the objective to efficiently manage SIF costs while providing quality service both to injured workers and employers, whom we jointly serve," Nappier said in a statement. "The rate reduction is a direct result of our continued commitment to manage the SIF effectively, resulting in stable and predictable costs for businesses."